Negotiating Your Salary During COVID19

Posted by TaxTalent 3 Years Ago | 1

Indeed Career Coaches released an article last week that I feel many in the current job market would find valuable, How to Negotiate Your Salary During COVID-19. If negotiating your salary wasn't nerve-wracking enough, now you have to do it during a global pandemic when companies are trying to save all their pennies. The article states, "some companies may hold on increases or bonuses" due to COVID-19's economic impact. I've outlined some key takeaways below, but I encourage you to read the full article.

1. There is hope – 
   • COVID-19 has greatly impacted our economy, but don't make assumptions that you won't succeed in salary negotiations. "57% of organizations have already paid or still plan to pay salary increases in 2020." You need to feel comfortable with your salary, so don't let hesitation hold you back.
2. Do your research – 
   • Before you go to the negotiation table, do your due diligence and ensure that what you are asking is reasonable given the company's current situation, challenges they may have faced during COVID-19, and the value you will bring to the department.
3. Wait until you are getting an offer to start negotiating – 
   • This stage in the process means that you are the most qualified for the job and have the upper hand in negotiating. As referenced in the article, a survey showed that 70% of managers already expect candidates to negotiate pay and benefits, so don't feel uncomfortable having these discussions.

We want to hear your thoughts about negotiating salaries and benefits during a pandemic. Have you already negotiated your salary? If so, how did it go? What tips would you give to those thinking about doing so?

Posted by Community Member 3 Years Ago